In the Books of XYZ

JOURNAL
Date Particulars
YZ

L.F. Amount (Dr.) Amount (Cr.)

 Seat Number: 454641
Four Lakhs Fifty foour thousand six hundred and fourty one
Semester: II
Name of the Course: Corporate Accounting
1
dred and fourty one

Accounting
 STATEMENT SHOWING DETAILS OF SHARE

Category Status Shares Applied Shares Alloted

I Rejected

II 50%

III 100%

IV Pro rata
HOWING DETAILS OF SHARE APPLICATION MONEY
App Money Disposition of Application Money
Received Share Capital Allotment Call-in-advance Refund
 In the Books of XYZ
JOURNAL
Date Particulars L.F.
Amount (Dr.) Amount (Cr.)
 STATEMENT SHOWING AMOUNT
Share Application Rs.
Name of Allotte No. of Shares
HOWING AMOUNT RECEIVED AND CALLS-IN-ARREARS ON FORFEITED SHARES
Share Allotment Rs. Share First Call Rs.
Share Second & Final Call Rs.
 Dr.
Receipt and Payment Account for the year ending March
Receipt Amount (Rs.)

Dr.
Income and Expenditure Account for the year ending Marc
Expenditure Amount (Rs.)
 Balance Sheet as on March 31, 2021
Liabilities Amount (Rs.)
 Cr.
ount for the year ending March 31, 2021
Payment Amount (Rs.)

Cr.
ccount for the year ending March 31, 2021
Income Amount (Rs.)
heet as on March 31, 2021
Assets Amount (Rs.)
 In the Books of VIOLA Ltd
JOURNAL
Date Particulars
REALISATION A/C DR
TO REAL ESTATE ACCOUNT
TO BUILDING ACCOUNTA/C
TO PLANT AND MACHINERY ACCOUNT A/C
TOEQUIPMENT 'SA/C
TO ACCOUNT RECEIVABLES A/C
TO INVENTORIES A/C
TO DEBTORS A/C
TO CASH A/C
( BEING THE ASSEST TRANSFERRED TO THE REALISATION ACCOUNT)

CREDITORS A/C DR
TO REALISATION
( BEING LIABILITES TRANSFERRED TO THE REALISATION ACCOUNT)

SHARE CAPITAL A/C DR

RESERVES AND SURPLUS A/C DR
PROFIT AND LOSS A/C DR
TO SUNDRY EQUITY SHAREHOLDERS
( BEING THE SHARE CAPITAL, RESERVES AND SURPLUS AND PROFIT AND LOSS TRANSFER
ED TO THE SUNDRY SHAREHOLDERS ACCOUNT)

ZENOBIA LTD A/C DR

TO REALISATION A/C
( BEING THE PURCHASE CONSIDERATION DUE FROM Z LTD)

SUNDRY EQUITY SHAREHOLDERS A/C DR

TO REALISATION A/C
( BEING LOSS ON REALISATION INCURRED)

SHARES IN Z LTD A/C DR

TO ZENOBIA LTD A/C
( BEING THE PURCHASE CONSIDERATION RECEIVED FROM Z LTD )
SUNDRY EQUITY SHAREHODLERS A/C DR
TO SHARES OF Z LTD A/C
( BEING THE DISTRIBUTION OF SHARES IN Z LTD AMONG THE EXISTING SHAREHOLDERS)

Working Notes

STEP 1- VIOLA LTD 24000* 15= 3600000

YARROW LTD- 30000*10= 3,00,000

STEP 2- VIOLA LTD 24000*25= 600000

YARROW LTD = 30000* 12.50= 375000

STEP 3- 85800*10= 8,58,000

RATIO OF 600000: 375000=8:5

STEP 4 = 858000*8/13=528000
A Ltd I

L.F. Amount (Dr.) Amount (Cr.) Date

660,000
288000
90000
30,000
12000
10000
80000
30000
120000

90000
90000

360000
180,000
30,000
570000

528,000
528000

42000
42000

528000
528000
528000
528000

STEP 1- VIOLA LTD 240

YARROW LTD- 3000

STEP 2- VIOLA LTD 24

YARROW LTD = 30000

STEP 3- 85800*1
RATIO OF 600000

STEP 4 = 858000*5
 In the Books of YARROW Ltd
JOURNAL
Particulars L.F.
REALISATION A/C DR
TO REAL ESTATE ACCOUNT
TO BUILDING ACCOUNTA/C
TO PLANT AND MACHINERY ACCOUNT A/C
TOEQUIPMENT 'SA/C
TO ACCOUNT RECEIVABLES A/C
TO INVENTORIES A/C
TO DEBTORS A/C
TO CASH A/C
( BEING THE ASSEST TRANSFERRED TO THE REALISATION ACCOUNT)

CREDITORS A/C DR
TO REALISATION
( BEING LIABILITES TRANSFERRED TO THE REALISATION ACCOUNT)

SHARE CAPITAL A/C DR

RESERVES AND SURPLUS A/C DR
PROFIT AND LOSS A/C DR
TO SUNDRY EQUITY SHAREHOLDERS
( BEING THE SHARE CAPITAL, RESERVES AND SURPLUS AND PROFIT AND LOSS TRANSFER
ED TO THE SUNDRY SHAREHOLDERS ACCOUNT)

ZENOBIA LTD A/C DR

TO REALISATION A/C
( BEING THE PURCHASE CONSIDERATION DUE FROM Z LTD)

SUNDRY EQUITY SHAREHOLDERS A/C DR

TO REALISATION A/C
( BEING LOSS ON REALISATION INCURRED)

SHARES IN Z LTD A/C DR

TO Z LTD A/C
( BEING THE PURCHASE CONSIDERATION RECEIVED FROM Z LTD )
SUNDRY EQUITY SHAREHODLERS A/C DR
TO SHARES OF Z LTD A/C
( BEING THE DISTRIBUTION OF SHARES IN Z LTD AMONG THE EXISTING SHAREHOLDERS)

Working Notes

STEP 1- VIOLA LTD 24000* 15= 3600000

YARROW LTD- 30000*10= 3,00,000

STEP 2- VIOLA LTD 24000*25= 600000

YARROW LTD = 30000* 12.50= 375000

STEP 3- 85800*10= 8,58,000

RATIO OF 600000: 375000=8:5

STEP 4 = 858000*5/13=3,30,000
 In the B

Amount (Dr.) Amount (Cr.) Date

540,000
276000
60000
18,000
6000
5000
40000
75000
60000

30000
30000

300000
150,000
60,000
510000

330,000
330000

180000
180000

330000
330000
330000
330000

W
 In the Books of ZENOBIA Ltd
JOURNAL
Particulars L.F.
BUSINESS PURCHASES A/C
TO LIQUIDATION OF VIOLA LTD

( BEING THE AMOUNT PAYBALE TO THE X LTD AS PER AGREEMENT)

REAL ESTATE ACCOUNT
BUILDING ACCOUNTA/C
PLANT AND MACHINERY ACCOUNT A/C
EQUIPMENT 'SA/C
ACCOUNT RECEIVABLES A/C
INVENTORIES A/C
DEBTORS A/C
CASH A/C
TO CREDITORS A/C
TO BUSINESS PURCHASE A/C
TO RESERVE A/C
( BEING THE DIFFERENT ASSEST AND LIABILITES TAKEN OVER AND THE DIFFERENCE B/W
SHARE CAPITAL ISSUE AND AMOUNT OF SHARE CAPITAL OF X ADJUSTED AGAINST RESERVE

LIQUIDATORS OF VIOLA LTD

TO EQUITY SAHRE CAPITAL A/C
( BEING THE ISSUE OF SHARES AGAINST PURCHASE CONSIDERATION )

BUSINESS PURCHASES A/C DR

TO LIQUIDATION OF YARROW LTD

( BEING THE AMOUNT PAYBALE TO THE X LTD AS PER AGREEMENT)

REAL ESTATE ACCOUNT
BUILDING ACCOUNTA/C
PLANT AND MACHINERY ACCOUNT A/C
EQUIPMENT 'SA/C
ACCOUNT RECEIVABLES A/C
INVENTORIES A/C
DEBTORS A/C
CASH A/C
TO CREDITORS A/C
TO BUSINESS PURCHASE A/C
TO RESERVE A/C
( BEING THE DIFFERENT ASSEST AND LIABILITES TAKEN OVER AND THE DIFFERENCE B/W
SHARE CAPITAL ISSUE AND AMOUNT OF SHARE CAPITAL OF X ADJUSTED AGAINST RESERVE

LIQUIDATORS OF Y LTD
TO EQUITY SAHRE CAPITAL A/C
( BEING THE ISSUE OF SHARES AGAINST PURCHASE CONSIDERATION )

CREDITORS A/C DR
TO CASH AND BANK A/C
( BEING CREDITORS PAID IN FULL )

Working Notes
Amount (Dr.) Amount (Cr.)
528,000
528000

288000
90000
30,000
12,000
10,000
80,000
30,000
120000
90000
528000
42000

528,000
528000

330000
330000

276000
60000
18000
6,000
5,000
40,000
75,000
60000
30000
330000
330000
330000

120000
120000
 ESOPS
JOURNAL
In the Books of XYZ
Date Particulars
 Working Notes
Calculation of Intrinsic value of options

Calculation of Employees Compensation Expenses to be written off for

YZ
L.F. Amount (Dr.) Amount (Cr.)
e of options

be written off for two and a half years

 STATEMENT OF LIABILITY OF B LIST OF CONTRIBUTO
Creditors outstanding on the date of such transfer N

Date Rs. Rs. Rs.

Total (a)
No.of Shares held
Maximum Liability on Shares held (b)
Amount Paid - Lower of (a) or (b)
Working Notes

Step 1

Since, no one transferred shares before the date May 10th, 2020, so ever

r's share: 40,000*8/40=8000

s's share:40,000*5/40=5,000

Step 2

the amount of 33,600 (73,600 - 40,000), further debt incurred between july 20,2020 and s
ratio of shares as P ceases to be partner. 15:08:05 ; (12,

Q's share: 33,600*15/28=18000

R's share: 33,600*8/28=9,600
S's share: 33,600*5/28=6,000
Step 3
 Step 3

the amount of 10,400 further incurred debt between Sept 15 2020 to November 14,2020 will be contributed by
R's share: 10,400*8/13=6400
S's share: 10,400*5/13=4,000

Step 4

the amount of 4,000 further debt incurred between november 14,2020 to february 9,2021 wi

Step 5

Step 6
Y OF B LIST OF CONTRIBUTORIES
O P Q Amount to be paid to Amount to be paid to
creditors creditors
Rs. Rs. Rs. Rs. Rs.

orking Notes

ore the date May 10th, 2020, so every one will pay will be liable to pay

q's share:40,000*15/40=15,000
r's share: 40,000*8/40=8000
s's share:40,000*5/40=5,000

incurred between july 20,2020 and sept,15,2020 will be confirmed by q, r, and s in their
ceases to be partner. 15:08:05 ; (12,000: 6400: 4000)

Q's share: 33,600*15/28=18000

R's share: 33,600*8/28=9,600
S's share: 33,600*5/28=6,000
mber 14,2020 will be contributed by R and S in their ratio as Q ceases to be partner. The ratio 8:5 (6400:4000)
R's share: 10,400*8/13=6400
S's share: 10,400*5/13=4,000

mber 14,2020 to february 9,2021 will be contributed by S alone as R ceases to be a partner.

Amount to be paid to
creditors
Rs.